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TMI Blog2023 (10) TMI 1283X X X X Extracts X X X X X X X X Extracts X X X X ..... respondent/assessee, could have written off the debts which were already turned bad? - HELD THAT:- According to us, this issue is no longer res integra, given the factual matrix arising in the instant matter and in view of the judgment T. Veerabhadra Rao [ 1985 (7) TMI 2 - SUPREME COURT] . This view has also found resonance with a judgment rendered in CIT v. Times Business Solution Ltd [ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Income Tax Appellate Tribunal [in short, Tribunal ]. 3. The sole ground on which the impugned order is sought to be assailed before us is that the deduction qua bad debts acquired by the respondent/assessee from its predecessor-in-interest, i.e., Eicher Motors Ltd. [EML], on acquisition of its commercial vehicle division in a scheme of demerger, was not permissible as per the provision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... This view has been sustained by the Tribunal. 7. According to us, this issue is no longer res integra, given the factual matrix arising in the instant matter and in view of the judgment rendered by the Supreme Court in Commissioner of Income Tax v. T. Veerabhadra Rao, (1985) 155 ITR 152 (SC). 7.1 This view has also found resonance with a judgment rendered by the coordinate bench of this ..... X X X X Extracts X X X X X X X X Extracts X X X X
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